After you apply to Credicorp, you may receive a referred outcome rather than an immediate approval or decline. A refer is not a no. It means the automated assessment flagged something it could not resolve on its own — and that a member of the team will look at the application before a final decision is made. Most referred applications are still considered and resolved promptly.
Why applications get referred
The decision engine is built to handle the majority of applications end to end. When it encounters something it needs additional context for — a pattern in your data that could mean different things, information that could not be fully verified automatically, or a close-run affordability picture — it flags the application for human review rather than making a call it is not confident about. A refer is the system working as intended, not a sign that something has gone badly wrong. The full logic is in what a referred application means.
What the reviewer is looking at
A human reviewer sees the same information the automated engine used, plus anything you supply in addition. They are not starting from scratch — they are looking at the case the engine built and deciding whether there is enough to make a confident offer, or whether they need more context to resolve a specific question. Common areas that get a closer look:
- Bank data that looked unusual or incomplete
- A credit file with an entry that could be read more than one way
- An affordability picture that sits on the boundary of what is comfortable
- A business purpose that was not clearly described
What you can do to help
If you receive a referral notification, the most useful thing you can do is respond promptly and add context that the automated data may not have captured. Examples of context that often helps:
- An explanation of a previous blip in your bank account — a returned payment that was a one-off, or a period of low activity during a known quiet season
- A clearer account of what the funds are for and why the amount and term are appropriate
- Additional bank statements if you have more than one business account and only connected one
You do not need to over-explain. A short, factual clarification on the specific point is more useful than a general pitch. See what information you can provide for a review for guidance on what to include.
How long a referral takes
Referred applications take longer than fully automated ones because a person is involved. The time depends on the complexity of what the reviewer needs to assess and how quickly you respond to any requests. We will contact you if we need anything specific. You can check the status of your application through your account at any time. See how long a lending decision takes for a general guide to timescales.
The possible outcomes
After the review, there are three possible outcomes:
- An offer — the reviewer is satisfied and an offer is issued, which may be for the amount you requested or a different amount
- A request for more information — one or two specific things are needed before a decision can be made
- A decline — the review found that the company does not meet the criteria at this time
If the outcome is a decline after a referral, you have the same right to ask for the main reasons and to reapply later when your circumstances have changed. For the process of asking for reconsideration, see how to appeal a lending decision.
Credicorp lends only to UK limited companies and LLPs for business purposes. We do not take personal guarantees from directors. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply to this borrowing.
See also: What a referred application means, What information you can provide for a review, Can I ask a person to review an automated decision?.